Business, Management, Marketing, Money, Tax, Law, People

Excellent governance, risk, and compliance (GRC) is a common aspiration, but how often is it a reality? For most companies, GRC is a work in progress, according to McKinsey’s 2025 Global GRC Benchmarking Survey (see sidebar, “Our survey methodology”). Despite efforts to broaden expertise at senior levels, corporate leaders see a “need for improvement” across numerous aspects of all three GRC pillars. There are many reasons for GRC shortfalls, some…

For years, McKinsey has tracked the steady rise of female-controlled assets and analyzed its potential implications in the United States and in Europe. McKinsey recently surveyed more than 13,000 US and European investors, of whom almost half were female financial decision-makers. The team also interviewed wealth managers in the United States and Europe to better understand the challenges involved in attracting and retaining female clients. The survey and interview responses…

People are asked to update the operating systems on their phones all the time. What if leaders applied that same kind of polishing and bug fixing to themselves? McKinsey research shows that executives who periodically review and revise their priorities, roles, time, and energy tend to be more productive, work more consciously, and drive change more effectively. In this episode of The McKinsey Podcast, McKinsey Senior Partner Arne Gast joins McKinsey…

The biopharmaceutical industry is experiencing a surge in demand for large molecules, driven by advances in biotechnology and the need for innovative treatments for complex diseases. With an annual growth rate of around 6 percent, the sector's role in global healthcare is more critical than ever. However, existing production capacities are struggling to keep up, even though the pharmaceutical industry is spending around $57 billion every year on new facilities.…

Latin America is consolidating as the world’s fastest-growing and most profitable region for insurance. Insights from McKinsey’s Global Insurance Report 2025 find that while it accounts for just 3 percent of the world’s insurance market, gross written premiums grew at 11 percent annually from 2019 to 2024, and the region retains significant room to grow. Penetration levels across Latin America remain lower than in other major markets (Exhibit 1). Claim levels have…

Resilience is critical in today’s organizations, given the state of uncertainty and permacrisis in which most teams and individuals operate. Yet McKinsey research suggests that many leaders and organizations aren’t spending enough time building that resilience. A full 84 percent of leaders report feeling underprepared for future disruptions, and 60 percent of board members say their companies are not ready for the next major event. Discussions with global CEOs reveal…

Now that the second quarter of 2025 is fully underway, it is increasingly evident that China’s consumer market has settled into a “new reality” characterized by single-digit consumption growth. Citing Chinese consumers’ “lack of confidence” and “trading down” behavior, market analysts continue to raise a series of challenging questions: Have pockets of growth narrowed? Has lower sentiment dampened spending intent? Our latest research reveals that, while challenges do remain, the…

The popular yarns about “work from home” and “return to the office” tend to be absolutist. First, there’s the notion that prior to the COVID-19 pandemic, everyone was in the office every day. Next, the idea is that during and after the pandemic, no one went in at all. Lately, the story goes that offices are packing up to the rafters yet again. The truth, underscored by the findings from…

The telecommunications (telco) industry has become an indispensable driver of economic growth worldwide. Mobile phones have transcended their traditional role as communication devices and developed into powerful tools that drive social and economic progress. From facilitating remote education and healthcare to empowering small businesses and boosting agricultural productivity, the impact of mobile technology is far-reaching—and expanding—especially in Africa. While African operators face headwinds, including regulatory complexities and infrastructure gaps, the…

There is an adage that people don’t leave their jobs; they leave their managers. This reality is particularly critical given how important managers are to the overall success of an organization and its people. Indeed, middle managers are the heart of any organization, deeply influencing talent, culture, and employee experience. They are the face of leadership for the front lines and the bridge from executive strategy to implementation. Middle manager performance…